Top-10 firms lose Rs 63k cr in a week

The country's top 10 firms lost over Rs 63,000 crore from their market capitalisation last week.

Written by Agencies | Mumbai | Published:February 22, 2009 1:22 pm

The country’s top 10 firms lost over Rs 63,000 crore from their market capitalisation last week,with Reliance Industries alone accounting for over one-third of the value erosion of the premier club.

The valuation of Mukesh Ambani-led RIL dipped below Rs two trillion mark after losing Rs 21,624 crore in the previous week.

During the week,the scrip of RIL lost nearly 10 per cent to settle at Rs 1,253.55 on Friday’s trade.

The company,which regained the coveted Rs two trillion turf three weeks back,saw its valuation dipping to Rs 1,97,284 crore last week.

The list,which comprises four private entities and six public sector companies,lost Rs 63,403 crore during the week to end at Rs 10,12,080 crore. Last week,the valuation of the coveted club stood at Rs 10,75,484 crore.

Diversified conglomerate ITC was the lone gainer in the club which added Rs 453 crore in its market valuation,moving up by three places to sixth.

At the end of trade on Friday,ITC’s market capitalisation stood at Rs 67,989 crore.

Meanwhile,the country’s largest lender,SBI,lost Rs 9,358 crore in valuation and dipped to the ninth slot from the previous week’s sixth position.

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